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Interest in overseas investment on the rise
15th August 2007
Increasing numbers of Britons are looking into investing in overseas property, a new report has concluded.
According
to the financial services provider Baydonhill, the number of enquiries
into overseas property investments made by Britons over the past year
was up by 30 per cent.
Despite the growing popularity of Eastern
Europe and more exotic locations such as Dubai and Morocco, it is the
traditional destinations which remain the most popular with Brits, with
France, Italy, Spain and Portugal having received the highest number of
enquiries over the period.
"The 30 per cent upturn that brokers
are seeing should only increase over the next few years," said Fiona
Watts, head of mortgages at Baydonhill.
"Overseas buyers are
starting to realise that there are now reliable sources of information
on investing in overseas property out there other than the traditional
banking routes," she added.
The news comes after the currency
exchange specialist HiFX reported that increasing numbers of Brits
abroad are cashing in on their properties and either downsizing or
moving back to the UK.
© 7BestInvest Ltd 2007.
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